Binance customers pulled a net 14.97 million XRP off the exchange on Nov. 2, a withdrawal wave that coincided with active accounts on the XRP Ledger climbing to 36,300, according to on-chain data circulated by analyst Xaif Crypto.
The exchange's XRP reserves fell 5.2% over 30 days to 2.38 billion tokens. Outflows for the day totaled 15.32 million XRP against inflows of just 341,700, leaving a net negative flow of nearly 15 million.
The numbers land days after Binance disclosed a major security breach. On Oct. 29, attackers compromised the exchange's internal wallet signing infrastructure and moved roughly $6.34 billion in digital assets across multiple blockchains. XRP was among the affected tokens: five Binance hot wallets sent a combined 233.46 million XRP to an address controlled by the intruders in under five minutes.
Binance suspended withdrawals immediately and later restored the service in stages as it reinforced its wallet systems. That sequence matters for reading the November flow data. Some of the XRP leaving the platform likely reflects customers shifting holdings into self-custody after the breach rather than a straightforward accumulation signal from investors.
Note: Figures as reported by Xaif Crypto and exchange disclosures.
On the network side, the rise in active accounts shows broader use of the XRP Ledger during the same stretch that Binance lost reserves. Some of those accounts probably belong to users who moved coins off centralized venues into personal wallets, while others may be conducting transfers, decentralized transactions or other on-chain activity.
A higher account count on its own does not prove that new money entered the network or that economic value expanded. It measures participation, and analysts say deeper data is needed before drawing conclusions about demand.
Discussion within the XRP community has focused on what the two trends together imply for trading liquidity. One widely followed commenter, posting as XRP HERALD, tied the falling reserves to busier ledger usage: "Outflows like that with reserves down 5.2% in a month is a clear trend. Coins are leaving exchanges and active accounts are surging. That's not just holding, that's the network getting used. Supply tightening while activity grows is a good setup."
If the withdrawals persist and more XRP sits in self-custody, the supply readily available for trading on centralized platforms could keep shrinking. Should buying demand strengthen at the same time, that thinner float could eventually affect liquidity conditions on exchanges.
For market participants, the takeaway is that exchange reserve data and ledger activity now need to be read together. A falling balance at Binance can signal either conviction or caution, and in this case the recent breach weighs on the interpretation. The same applies to the account count: it confirms that the network is being used more, not that investors are adding exposure.
Both metrics remain worth watching as Binance completes its withdrawal restoration and the XRP Ledger absorbs the coins that left the exchange.
